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Jerr-Dan Named "The Official Tow & Recovery Vehicle" of Indianapolis Motor Speedway
JERR-DAN NAMED "THE OFFICIAL TOW & RECOVERY VEHICL (June 3, 2009) -
Greencastle, Penn. (May 29, 2009) - Jerr-Dan Corporation, an Oshkosh Corporation [NYSE: OSK] company and a leading manufacturer of towing and recovery equipment, last week announced an exclusive relationship with Indianapolis Motor Speedway. The agreement made Jerr-Dan “The Official Tow and Recovery Vehicle” at this world- famous track known best for the Indianapolis 500, the largest single-day sporting event on the planet.
“We are excited to establish this relationship with Indianapolis Motor Speedway and ‘The Greatest Spectacle in Racing,’” said Wilson Jones, Oshkosh Corporation executive vice president, Fire & Emergency, and interim president of Jerr-Dan Corporation. “We are proud to provide towing and recovery vehicles to serve both racing teams and fans alike at, perhaps, the most famous speedway in the world.”
On May 24, Helio Castroneves became the ninth driver to win the Indianapolis 500 at least three times. On duty at the speedway for the race were: five Jerr-Dan® aluminum HPL 6000 wrecker bodies mounted on Hino® 268 4 x 2 conventional chassis; three Jerr-Dan premium 6-ton carrier bodies mounted on Hino 258LP 4 x 2 conventional chassis; and two Jerr-Dan MPL-40 self-loading wreckers.
The 2009 Indianapolis 500 was broadcast live by ABC television and viewed in over 200 countries. Castroneves earned a record $3,048,005 from an overall purse of $14,315,315. Alex Tagliani was named Chase Rookie of the Year, and Sarah Fisher was presented the Scott Brayton Driver's Trophy during the Victory Celebration on Monday, May 25 at the Indianapolis Motor Speedway.
Established in 1909, the Indianapolis Motor Speedway has long been an icon of motorsports excellence. This year, the Speedway begins celebrating its Centennial Era, commemorating the 100th anniversary of the facility in 2009 and the 100th anniversary of the Indianapolis 500 Mile Race in 2011. Other major events at the speedway include the NASCAR Allstate 400 at the Brickyard and MotoGP Red Bull Indianapolis GP.
About Jerr-Dan
Jerr-Dan Corp., an Oshkosh Corporation [NYSE: OSK] company, is a leading manufacturer of towing and recovery equipment. Its full line includes light-, medium- and heavy-duty carriers and wreckers, industrial transporters and four-car carriers. The company is headquartered in Greencastle, Penn., and its products are backed by industry leading warranties and a strong service network dedicated to the towing professional. Visit
www.jerr-dan.com for more information.
About Oshkosh Corporation
Oshkosh Corporation [NYSE: OSK] is the leading North American manufacturer of a broad range of snow removal vehicles, fire and emergency vehicles, specialty access equipment, commercial vehicles, and military vehicles and vehicle bodies. Oshkosh's products are valued worldwide by municipal and airport support services, fire and emergency units, concrete placement companies, rental companies, defense forces, and refuse businesses where high quality, superior performance, rugged reliability and long-term value are paramount. Visit
www.oshkoshcorporation.com for more information.
Hino® is a registered trademark of Hino Trucks, a Toyota Group Company.
®, ™ All other brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies. Forward-looking Statements
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession and its adverse impact on the Company’s share price, which could lead to additional impairment charges related to many of the Company’s intangible assets; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; the potential for commodity costs to rise sharply in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; the Company’s ability to close the sale of its Geesink business on its expected timetable; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission.
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